11-year NFL veteran named Carolina Panthers' most overpaid player

Adam Thielen might be the worst deal the Panthers have on the books.

Dec 1, 2024; Charlotte, North Carolina, USA; Carolina Panthers wide receiver Adam Thielen (19) celebrates with wide receiver Xavier Legette (17) after scoring. a touchdown to take the lead with 30 seconds left in the fourth quarter at Bank of America Stadium. Mandatory Credit: Bob Donnan-Imagn Images | Bob Donnan-Imagn Images

Since they've been rebuilding for a while, the Carolina Panthers don't have any truly egregious contracts. They've yet to reach the stage where they are either extending their own superstar to a lucrative deal or signing a truly big-name free agent to come to town.

Still, every team has bad contracts. Every team has made faulty signings, and the Panthers are especially guilty of that. Their 2023 free agency was pretty dismal, and that's actually where, according to Yardbarker's Seth Trachtman, their worst contract comes from: Adam Thielen.

"Thielen remains productive when he's on the field, but he played only 10 games last season and could see less playing time this year as the team goes younger at wide receiver," Trachtman argued. "The veteran is set for a cap hit of more than $10.1 million in 2025."

If a $10.1 million cap hit this year for what is currently the WR1 is the worst contract on the books, then GM Dan Morgan is doing something right. However, some of the 2025 free agents could end up aging poorly, as the Panthers were accused of paying the bad team tax (a.k.a. overpaying for free agents who aren't as good because the team is not a good landing spot).

Thielen was supremely productive when on the field, but he did suffer a substantial hamstring injury last year. He is also likely retiring at the end of the year, so he's not exactly in his physical prime anymore and remains a moderately expensive player.

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